Upgrading to Lion with Boot Camp

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What's the best way for me to upgrade from SL to Lion along with a boot camp partition with Windows 7? Currently my 2009 MBP has SL and has a boot camp partition with Windows 7 and another secondary Mac HD partition. Will his work:

1. Back-up through Time Machine under SL
2. Erase boot camp and secondary partition to restore primary HD to take whole drive
3. Clean install Lion
4. Restore from Time Machine back-up
5. Create new boot camp partition and reinstall Windows 7

Any help would be appreciated. Thanks!